Oppenheimer Holdings Inc. reissued their outperform rating on shares of Carbonite Inc. (NASDAQ:CARB) in a research note issued to investors on Monday morning. Oppenheimer Holdings Inc. currently has a $22.00 target price on the stock, up from their prior target price of $21.00.
A number of other research analysts have also recently weighed in on CARB. Zacks Investment Research cut shares of Carbonite from a buy rating to a hold rating in a research report on Thursday, July 28th. B. Riley reaffirmed a buy rating and set a $15.00 price target on shares of Carbonite in a research report on Friday, July 29th. Finally, TheStreet raised shares of Carbonite from a sell rating to a hold rating in a research report on Friday, November 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $18.50.
Carbonite (NASDAQ:CARB) opened at 19.55 on Monday. Carbonite has a 52-week low of $6.50 and a 52-week high of $19.63. The company has a 50 day moving average of $16.94 and a 200-day moving average of $12.91. The stock’s market capitalization is $532.89 million.
Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, November 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.07. Carbonite had a negative net margin of 4.26% and a negative return on equity of 699.63%. The business had revenue of $51.90 million for the quarter, compared to analysts’ expectations of $15.93 million. During the same period last year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 50.0% on a year-over-year basis. Equities research analysts anticipate that Carbonite will post $0.57 EPS for the current year.
In other news, CFO Anthony Folger sold 3,000 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $15.85, for a total transaction of $47,550.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Friend sold 280,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $18.33, for a total transaction of $5,132,400.00. Following the transaction, the director now directly owns 1,027,303 shares in the company, valued at $18,830,463.99. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in Carbonite during the second quarter worth approximately $2,370,000. Glenmede Trust Co. NA bought a new stake in shares of Carbonite during the second quarter worth about $109,000. Gabelli Funds LLC raised its stake in shares of Carbonite by 27.3% in the second quarter. Gabelli Funds LLC now owns 14,000 shares of the company’s stock worth $136,000 after buying an additional 3,000 shares during the period. Teton Advisors Inc. raised its stake in shares of Carbonite by 1.3% in the second quarter. Teton Advisors Inc. now owns 75,687 shares of the company’s stock worth $736,000 after buying an additional 1,000 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Carbonite during the second quarter worth about $763,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.
Carbonite Company Profile
Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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